Sonova reaches out-of-court settlement with investors

Staefa (Switzerland), 05.10.2012 –Sonova Holding AG announces today an out-of-court settlement with investors represented by Deminor. This settlement relates to purported claims raised by these investors in connection with the profit warning on March 16, 2011. Under the terms of the agreement, Sonova will pay CHF 2.6 million in full settlement of all alleged claims without acknowledging any legal obligation.

Back in March of this year, Sonova Holding AG informed that it had been served with summons to pay in the amount of approximately CHF 26 million by investors. The investors were represented by Deminor SCRL / CVBA, a Belgian company which supported them with their damage claims in connection with the late profit warning in March 2011. On July 10, 2012, the Sanction Commission of the SIX Swiss Exchange announced its ruling that the profit warning should have been published already on March 4, 2011. The parties reached an out-of-court settlement on the basis of a payment of an amount of CHF 2.6 million.